# Business Loan Program Temporary Changes; Paycheck Protection Program-Eligibility of Certain Telephone Cooperatives
> **US Small Business Administration** · Interim final rule. · Published 2020-06-11 · Effective 2020-06-08 · 85 FR 35550
## Document
- **Document number:** 2020-12623
- **Category:** final-rule
- **Agency:** US Small Business Administration
- **Federal Register citation:** 85 FR 35550
- **CFR reference:** 13 CFR 120
- **Publication date:** 2020-06-11
- **Effective date:** 2020-06-08
- **Docket:** Docket Number SBA-2020-0034
## Abstract

On April 2, 2020, the U.S. Small Business Administration (SBA) posted an interim final rule announcing the implementation of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act temporarily adds a new program, titled the "Paycheck Protection Program," to the SBA's 7(a) Loan Program. The CARES Act also provides for forgiveness of up to the full principal amount of qualifying loans guaranteed under the Paycheck Protection Program (PPP). The PPP is intended to provide economic relief to small businesses nationwide adversely impacted by the Coronavirus Disease 2019 (COVID-19). This interim final rule supplements previously published interim final rules by providing guidance on additional eligibility requirements for certain telephone cooperatives, and requests public comment.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2020/06/11/2020-12623/business-loan-program-temporary-changes-paycheck-protection-program-eligibility-of-certain-telephone)
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